Ch 12 Hwk Part 2

The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Increase (Decrease) Amount FEDERER SPORTS APPAREL Balance Sheet December 31 Your 2022 2021 Assets Cash $ 2.640,000 $ 990,000 Accounts receivable 1.820,000 1,512,000 Inventory 3,300,000 2,178,000 Buildings 14.400,000 14.400,000 Less Accumulated depreciation (2,160,000) (1,080.000) Total assets $ 20,000,000 $ 18,000,000 Liabilities and Stockholders' Equity Accounts payable 5 1.640,000 $2,178,000 Contingent liability 1,900,000 Common stock 9,360,000 9,360,000 Retained earnings 7,100,000 6,462,000 Total liabilities and stockholders' equity $ 20,000,000 $ 18,000,000